Chief Operating Officer Kristian Tear and Chief Marketing Officer Frank Boulben, both hired by recently ousted CEO Thorsten Heins, will leave the struggling smartphone maker. And the company said Monday that Brian Bidulka is being replaced by James Yersh as chief financial officer. Yersh previously served as senior vice president and controller.
European Commissioner Algirdas Semeta unveiled a plan Monday to stop companies avoiding taxes on subsidiaries' dividends in some EU nations because local laws classify the dividends as debt payments.
Bangladesh has yet to meet benchmarks set by the U.S. government for restoration of trade benefits suspended after a garment factory collapse that killed more than 1,100 people, an influential Democratic senator said Friday.
A draft text presented Friday, the last scheduled day of the two-week conference in Warsaw, gave only vague direction on when countries should present their targets for restricting carbon emissions. That's a key element of the deal that's supposed to be adopted in Paris in 2015.
Nissan Renault Chairman & CEO Carlos Ghosn discusses manufacturing in Mexico how his company is using the country as an export hub for its cars. Nissan is investing $2 billion and adding 7,000 jobs in Aguascalientes, Mexico.
To kick-off the holiday shopping season, American Made Matters® has declared November 19, 2013 the first annual American Made Matters® Day. On this day, American Made Matters® is encouraging consumers to buy at least one American-made product to show their support for American manufacturing.
On the sidelines of a U.N. climate conference, Christiana Figueres told dozens of CEOs of coal companies meeting at Poland's Economy Ministry that their industry needs to change radically to curb emissions of heat-trapping gases that scientists say are warming the planet.
The new target approved by the Cabinet on Friday calls for reducing emissions by 3.8 percent from their 2005 level by 2020. The revision was necessary because the earlier goal of a 25 percent reduction from the 1990 level was unrealistic, the chief government spokesman, Yoshihide Suga, told reporters in Tokyo.
China has pledged less than $2 million in cash and materials, compared to $20 million provided by the United States, which also launched a massive military-driven rescue operation that includes an aircraft carrier.
Exports, which hit a record high in June, slipped for the third straight month, dipping 0.2 percent to $188.9 billion, with sales of commercial aircraft and autos both down. Imports rose 1.2 percent to $230.7 billion, the highest level since November.
The two-billion-dollar manufacturing complex in Aguascalientes, central Mexico, is capable of assembling 175,000 cars annually. It will initially produce Sentra compact sedans, which are to be shipped to over 20 markets globally.
European consumer groups are worried about the effects of a proposed trade deal with the U.S., fearing a flood of risky or unsafe foodstuffs, medicines and other imports from America.
China's leaders finished a closely watched policy meeting Tuesday with a promise to give market forces a bigger role in the country's state-dominated economy but failed to produce dramatic reforms to overhaul a worn-out growth model.
PepsiCo plans to invest $5.5 billion in India by 2020 as it focuses on growth in emerging markets. The maker of Mt. Dew, Gatorade and Frito-Lay chips plans to spend the money on new products, agriculture programs, selling infrastructure and manufacturing capabilities.
The negotiations take place against the backdrop of European pique over reported U.S. electronic espionage, and were delayed due to the U.S. government shutdown. But officials for both sides say the benefits of the proposed Transatlantic Trade and Investment Partnership are too great for the talks to be affected.
American businesses and the government know that China wants to become the number one economy in the world and we simply ignore the fact that the Chinese have shown they will do whatever it takes (legal or illegal) to achieve their goals.
Honeywell announced today it will establish a new manufacturing campus in Zhangjiagang, China, to support growing demand in Asia for energy technology and advanced materials.
A Germany-based automotive supplier is planning to build a new production plant in Kentucky. The $120 million facility will be called Bilstein Cold Rolled Steel and will employ 90 workers. The company says it is building the 150,000-square-foot facility to better serve its North American auto industry customers.
Coroplast Tape Corp. is planning to put its first U.S. production plant in South Carolina, creating 150 jobs. The German company announced Wednesday plans to invest $12 million in a York County Spec Building off Interstate 77. The facility will make a range of adhesive and insulating tapes for the automotive industry.
Daimler AG's Mercedes-Benz says it will build a new plant in Brazil to produce its C-class sedan and GLA compact sport-utility vehicle. The German automaker says in a Tuesday statement that the company will make an initial investment of 500 million reals ($224 million) to build the plant in the city of Iracemapolis in Sao Paulo state.
China’s overwhelming manufacturing cost advantage over the U.S. is shrinking fast. Within three years, a Boston Consulting Group analysis concludes that rising Chinese wages, higher U.S. productivity, a weaker dollar, and other factors will virtually close the cost gap between the U.S. and China for many goods consumed in North America.
A new study by the Economic Policy Institute finds that a growing trade deficit with China has cost the U.S. billions of dollars in lost wages. In 2011 alone, unbalanced trade with the People’s Republic resulted in lost U.S. wages of $37.0 billion. The EPI study cites 2.7 million U.S. jobs lost between 2001 and 2011 due to the trade gap with China, and over 2.1 million of those jobs were in the manufacturing sector.
Bridgestone will keep running its passenger car tire plant in Italy, dropping an earlier plan to close it in 2014, on the condition that the plant's productivity and costs improve, the Japanese firm's European arm said. An agreement was signed by all stakeholders including local institutions, the Ministry of Welfare and trade unions to implement a plan for the plant to focus solely on tires for general use, Bridgestone Europe NV/SA said.
The eurozone's labor market appears to have stabilized, official figures indicated Tuesday, another sign that the eurozone economy is recovering from its longest-ever recession. Though Eurostat, the EU's statistics office, said the unemployment rate across the 17-member eurozone held steady at 12 percent in August, it found the number of people out of work fell for the third month running.
Virtually all analysts agree that, yes, many American manufacturers have been successful in bringing some previously lost business back home. But it’s happening at a slower pace than the industry had hoped. According to Henry Moser, the founder of the national Reshoring Initiative, the actual rate of reshoring is somewhere between a trickle and torrent.